Economics

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Contents

Introduction

The claimed scientific study of money and the value of other commodities, in particular, the study of historical prices paid for goods and services. Economics is based on the idea that the more difficult things are to have or obtain, as in, the things that are uncommon and distant, the plants that are harder to grow, or the minerals that are harder to dig up, the more expensive they become.

Economics is based upon fundamental principles, not laws, with a calibre similar to those found in other sciences. Economists talk about things people want, without factoring in reality.

Capitalism

Capitalism is really more of a political ideology about things that are non-free. Economists are employed to divulge much opinion, speculation and conjecture in relation to the future exchange within financial markets. Many if not most people rationalize their world with economic philosophy. These people tend to believe a strong economic base above all else, ensures further progress and security, but others believe this thinking is a based on a dangerous, statisticaltheory.

Neo-liberalism

While neo-liberalism does encourage structural changes such as retraction of the state from the provision of certain social services or minimum wage legislation, for example, there is nothing inherant within the philosophy of neo-liberal economics that stipulates conditions so frequently associated (rightly or wrongly) with this system. Examples include free trade or endebtedness, these rather are political choices manifested through the dominant economic discourse of our time - neo-liberalism. The dominance of this discourse was ushered in during the Regan-Thatcher administration in the USA and UK respectively.